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2875 Broadway

Verizon Wireless Leases Retail Space At 2875 Broadway From Premiere Equities In Upper West Side
LEASEDRetail

Verizon Wireless Leases Retail Space At 2875 Broadway From Premiere Equities In Upper West Side

2875 Broadway

$400

$400/SF

Building Size

1,350 SF

Asset Type

Retail

Closing

Sep 1, 2024

AI

The property asset involved in this transaction is a retail space located at 2875 Broadway in the Upper West Side market. The lease type is a retail lease, with an asking rent of $400 per square foot for a total area of 1,350 square feet. The landlord of the property is Premiere Equities, while the tenant is Verizon Wireless.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $400/ft
  • Square Footage: 1,350
  • Address: 2875 Broadway
  • Market: Upper West Side
  • Landlord: Premiere Equities
  • Tenant: Verizon Wireless
  • Brokers: Solomon Sharaby & Selim Sabbagh - KSR

The deal involved key individuals Solomon Sharaby and Selim Sabbagh, who represented the landlord and tenant in this transaction. They are affiliated with KSR, a brokerage firm that facilitated this lease agreement.

Players

Solomon Sharaby

Kassin Sabbagh Realty

Broker

$3M

vol

100 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

39657.50%

Cash-on-Cash

-11334.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93